Biotechnology developer Haemacure Corp. (TSX:HAE) said Wednesday it would need to seek additional financing after reporting a drop in revenue and a fiscal 2008 loss that doubled from year-earlier levels.
The Montreal-based company said its 2008 loss grew to $8.8 billion or five cents a share, up from $4 million or three cents a share recorded in 2007.
Haemacure said revenue slipped to $96,571 for the fiscal year ended Oct. 31, 2008. Revenue was down from the $119,704 reported the previous year.
"Haemacure is financing its current activities with the proceeds of the $7.8 million generated through the exercise in June 2008 of warrants issued as part of the private placement it completed in January 2007, and will require additional financing in the near term to support its operations," the company said in a statement.
The private placement was expected to allow Haemacure to get its fibrin sealant into clinical trials in the first quarter of 2009.
Thursday, January 22, 2009
CryoLife, Inc. Receives Tissue From 100,000th Donor, Marking Industry Milestone
CryoLife, Inc. (NYSE: CRY), announced today that it achieved an industry milestone when it received tissue from its 100,000th individual donor. The tissue, received January 14, 2009 came from a Kansas-based organ and tissue procurement organization.
Since 1984, through the generosity of donor families and with the support of the organ and tissue procurement organizations, CryoLife has been able to provide more than 160,000 cryopreserved tissues for transplant.
More than 40 percent of the cardiac tissue preserved by CryoLife is implanted into children for whom the availability of cryopreserved allograft tissue can provide the best chance for a normal, active lifestyle. In addition, cryopreserved allograft vascular tissues have enabled patients with impaired circulatory systems to avoid lower limb amputations.
"It has been very gratifying to be able to provide life-saving and life-enhancing tissues to so many patients over the years," said Steven G. Anderson, president and CEO of CryoLife, "However, none of our work would be possible without the generosity of donors and their families who give so selflessly at a time of personal tragedy. We are grateful to the many people who register as organ and tissue donors. Their kindness is awe-inspiring."
CryoLife encourages everyone to support their local organ or tissue procurement organizations and health care professionals in their efforts to provide increased awareness of organ and tissue donation options. For additional information about organ donation, contact your local organ or tissue procurement organization or the American Association of Tissue Banks at www.aatb.org.
Since 1984, through the generosity of donor families and with the support of the organ and tissue procurement organizations, CryoLife has been able to provide more than 160,000 cryopreserved tissues for transplant.
More than 40 percent of the cardiac tissue preserved by CryoLife is implanted into children for whom the availability of cryopreserved allograft tissue can provide the best chance for a normal, active lifestyle. In addition, cryopreserved allograft vascular tissues have enabled patients with impaired circulatory systems to avoid lower limb amputations.
"It has been very gratifying to be able to provide life-saving and life-enhancing tissues to so many patients over the years," said Steven G. Anderson, president and CEO of CryoLife, "However, none of our work would be possible without the generosity of donors and their families who give so selflessly at a time of personal tragedy. We are grateful to the many people who register as organ and tissue donors. Their kindness is awe-inspiring."
CryoLife encourages everyone to support their local organ or tissue procurement organizations and health care professionals in their efforts to provide increased awareness of organ and tissue donation options. For additional information about organ donation, contact your local organ or tissue procurement organization or the American Association of Tissue Banks at www.aatb.org.
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